Parkside Investments LLC Purchases 1,302 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Parkside Investments LLC raised its position in Alphabet Inc. (NASDAQ:GOOGL) by 56.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,605 shares of the information services provider’s stock after purchasing an additional 1,302 shares during the quarter. Parkside Investments LLC’s holdings in Alphabet were worth $557,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Compass Planning Associates Inc acquired a new position in shares of Alphabet during the 4th quarter worth about $30,000. PayPay Securities Corp raised its holdings in Alphabet by 36.1% during the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock worth $46,000 after acquiring an additional 65 shares in the last quarter. Anderson Financial Strategies LLC acquired a new position in Alphabet during the fourth quarter valued at approximately $49,000. Navigoe LLC bought a new position in Alphabet in the fourth quarter valued at approximately $51,000. Finally, Prudent Man Investment Management Inc. acquired a new position in shares of Alphabet during the 4th quarter worth approximately $53,000. 40.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 673 shares of Alphabet stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total value of $104,537.09. Following the transaction, the chief accounting officer now owns 15,303 shares in the company, valued at $2,377,014.99. The trade was a 4.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $1,837,500.00. Following the transaction, the director now directly owns 261,966 shares of the company’s stock, valued at approximately $45,844,050. The trade was a 3.85% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 195,570 shares of company stock valued at $32,003,532 in the last ninety days. 11.64% of the stock is currently owned by company insiders.

Alphabet Trading Down 0.6%

Shares of NASDAQ:GOOGL opened at $174.67 on Friday. The business’s 50 day simple moving average is $162.89 and its 200 day simple moving average is $174.61. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $207.05. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The company has a market capitalization of $2.12 trillion, a P/E ratio of 21.70, a P/E/G ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The company had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same period in the prior year, the firm posted $1.89 EPS. On average, research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.48%. This is an increase from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date is Monday, June 9th. Alphabet’s dividend payout ratio is presently 9.36%.

Wall Street Analyst Weigh In

Several research firms have recently commented on GOOGL. Truist Financial cut their price objective on Alphabet from $220.00 to $200.00 and set a “buy” rating for the company in a report on Thursday, April 17th. Oppenheimer increased their price target on shares of Alphabet from $185.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, April 25th. Roth Mkm restated a “buy” rating and set a $220.00 price objective on shares of Alphabet in a research note on Wednesday, March 19th. JMP Securities reaffirmed a “market perform” rating on shares of Alphabet in a report on Wednesday, May 21st. Finally, UBS Group set a $195.00 price target on Alphabet in a report on Friday, April 25th. Ten analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $199.75.

About Alphabet

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.